Trading Plan: Will Nifty 50 reclaim 24,700, Bank Nifty move toward 56,000 ahead of RBI policy?
The Nifty 50 remained below short-term moving averages (10- and 20-day EMAs) and below the midline of the Bollinger Bands (24,700). Hence, the index needs to reclaim and sustain above 24,700 for a move toward the 24,850–24,900 levels. However, on the lower side, 24,500 is expected to act as key support, which has consistently held well on a closing basis.
